
NYSE:NEM
This summary was created by AI, based on 3 opinions in the last 12 months.
Newmont Mining (NEM-N) has garnered a range of opinions among analysts, showcasing both enthusiasm and caution regarding its future in the gold market. One expert notes a significant price increase from $40 to $127, indicating a strong performance but suggests that selling may be prudent at current high levels. Another analyst highlights a substantial 168% rise in profits tied to gold prices, while expressing a preference for a competitor, AEM-T. A third reviewer emphasizes a bullish long-term view on gold despite switching to another producer for increased growth potential. Overall, while the stock has seen impressive gains, there is a hint of caution from some experts about the sustainability of these heights in a volatile market.
The USD and gold price The debt clock in Times Square will hit $30 trillion in a couple weeks. If you can't get bearish on the USD with that, he doesn't what will. He was wrong--he thought the USD would continue to slide since last fall into this spring, but it's obviously bounce--but the bounce is temporary, he thinks. The dollar will continue to fall, which will benefit metals. He didn't think gold would fall down here, either, but at least gold has held the low of June 2020. In this space, Newmont around $57 off last summer's $70 looks interesting.
*Short* Hates gold companies and gold prices. We are in for another decade or more of disappointment. This is one of the few material names in the US, so it is widely held by generalists, but what it doesn’t have going for it is growth. Has had no growth for years. Huge issues with debt at $6.8 billion. It needs to spend roughly $2.6 billion over the next year or so, just to maintain production. If the Swiss don’t vote for gold to be backed by the central bank reserve, then gold will be under pressure and gold stocks will be very, very weak. Yield of 0.51%.
Likes it, but buy Barrick instead. The gold stocks as a whole are hot.